Okay:
1.
So let me know if this is correct: 403b plans are part of pension so you don't add them to anywhere, they are including in your w-2 when doing taxes?
2. Does it reduce my taxable income and AGI, therefore decreasing what I pay in taxes overall? In other words, does it act like a deduction of sorts. I realize it isn't a deduction but here's a scenario. I make 75K a year and put 5K a year in 403b, I'm only taxed at 70K? Am I right on this assumption?
